Impax Asset Management Group plc Has $10.57 Million Stock Position in Merit Medical Systems, Inc. (NASDAQ:MMSI)

Impax Asset Management Group plc lessened its stake in shares of Merit Medical Systems, Inc. (NASDAQ:MMSI - Free Report) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the medical instruments supplier's stock after selling 20,000 shares during the quarter. Impax Asset Management Group plc owned about 0.17% of Merit Medical Systems worth $10,571,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Merit Medical Systems in the 1st quarter valued at approximately $31,000. Versant Capital Management Inc increased its stake in shares of Merit Medical Systems by 1,518.5% during the 1st quarter. Versant Capital Management Inc now owns 437 shares of the medical instruments supplier's stock worth $46,000 after purchasing an additional 410 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Merit Medical Systems by 139.1% during the 4th quarter. Federated Hermes Inc. now owns 655 shares of the medical instruments supplier's stock worth $63,000 after purchasing an additional 381 shares in the last quarter. Group One Trading LLC purchased a new position in Merit Medical Systems during the fourth quarter worth $77,000. Finally, Smartleaf Asset Management LLC increased its position in Merit Medical Systems by 237.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,388 shares of the medical instruments supplier's stock worth $134,000 after purchasing an additional 977 shares in the last quarter. Hedge funds and other institutional investors own 99.66% of the company's stock.

Insider Transactions at Merit Medical Systems

In other Merit Medical Systems news, Director Michael R. Mcdonnell sold 1,750 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $94.51, for a total value of $165,392.50. Following the transaction, the director directly owned 6,395 shares in the company, valued at $604,391.45. The trade was a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Floyd sold 3,515 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $94.16, for a total value of $330,972.40. Following the completion of the transaction, the director directly owned 4,880 shares in the company, valued at $459,500.80. The trade was a 41.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,596 shares of company stock worth $8,171,433. Insiders own 3.70% of the company's stock.

Merit Medical Systems Stock Down 1.0%

MMSI traded down $0.98 on Monday, reaching $92.61. The company's stock had a trading volume of 51,038 shares, compared to its average volume of 535,943. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 45.39, a price-to-earnings-growth ratio of 3.08 and a beta of 0.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.87 and a quick ratio of 3.26. The business's 50 day moving average is $94.75 and its 200 day moving average is $98.53. Merit Medical Systems, Inc. has a 1 year low of $82.62 and a 1 year high of $111.45.

Merit Medical Systems (NASDAQ:MMSI - Get Free Report) last posted its earnings results on Thursday, April 24th. The medical instruments supplier reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. The firm had revenue of $355.35 million for the quarter, compared to the consensus estimate of $352.57 million. Merit Medical Systems had a net margin of 8.81% and a return on equity of 15.52%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. As a group, research analysts forecast that Merit Medical Systems, Inc. will post 3.37 EPS for the current fiscal year.

Analyst Ratings Changes

MMSI has been the subject of several recent analyst reports. Raymond James Financial lowered their target price on shares of Merit Medical Systems from $116.00 to $108.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Wells Fargo & Company restated an "overweight" rating and issued a $108.00 target price (up from $106.00) on shares of Merit Medical Systems in a report on Wednesday, May 21st. Canaccord Genuity Group set a $112.00 price objective on shares of Merit Medical Systems and gave the company a "buy" rating in a research note on Wednesday, May 21st. Barrington Research lowered their price target on Merit Medical Systems from $111.00 to $103.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Piper Sandler reissued an "overweight" rating and set a $110.00 price target (up previously from $106.00) on shares of Merit Medical Systems in a research report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Merit Medical Systems currently has an average rating of "Moderate Buy" and a consensus price target of $109.11.

Merit Medical Systems Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.